Beltway Spin Podcasts

Monday, November 15, 2010

Inside The Beltway Tax Talk

In the corporate media's coverage of the expiring Bush Tax Cuts, there always seems to be a focus on the portion of the tax cuts for the wealthy. They suggest there is only one possible option for the White House and the democratic controlled Congress for resolving the issue. That one option is for the tax cuts for the wealthy to be temporarily extended.

However, US Senator Chuck Schumer of New York made an appearance on CBS's Face The Nation yesterday and suggested another way that I have not heard advocated before. He suggested the compromise should be to let everyone earning less than 1 million dollars to have a permanent tax cut and those making more than 1 million dollars would not receive any tax cut, temporary or otherwise. In my opinion, individuals earning several hundred thousand dollars annually should still be considered wealthy, but I can live with this compromise because millionaires and billionaires would not be receiving a single penny in tax cuts.

This is a brilliant strategy that would box the republicans and handful of corporate democrats into either voting for tax cuts for the middle class only or be forced instead to argue for tax cuts for the wealthy. No matter how many of these pols are tools for the wealthy and corporations, can you really imagine them facing the American people and having to explain to them why they are advocating for tax cuts for people like Bill Gates, Meg Whitman, Oprah, and Mayor Bloomberg, during a "depression like" economy and in a time where these same republicans and blue dog democrats have talked non-stop about getting our deficit under control?

No comments:

Post a Comment